Question

enthusiastic to finish your college education, you sign up for six classes for next semester. halfway through the semester, you realize that you really only had time to invest in four of the classes. this is an example of ____ that lead(s) to market failure. irrationality externalities market power private information

Explanation:

Irrationality in economics refers to decisions that deviate from rational behavior. Here, signing up for six classes but only having time for four shows a lack of rational judgment (over - committing resources). Externalities involve third - party effects, market power is about a firm's control over price, and private information is about asymmetric knowledge. None of these fit as well as irrationality.

Answer:

A. irrationality